Aprirose, the real estate investment company, has acquired a block of 57 flats in Luton from clients of Knight Frank Investment Management for an undisclosed price. The property is fully let to social and affordable housing specialist Mears Housing Ltd, with 14 years remaining on the lease.
Located in Luton, the key commuter town located 35 miles north of London, the five-storey block was constructed in the 1950s and is a key example of the office to residential conversion trend. The location benefits from being close to the town centre and main retail centre, with excellent transport links, being a 15-minute walk from Luton Station and two miles from Luton Airport.
The residence provides much-needed affordable housing for the local area, where there is an acute shortage. There are more than 16,000 people on the housing registers across Luton and central Bedfordshire.
